Personal stories of how City workers overcame trauma, depression and addiction

One of the most common issues related to mental health is the stigma and consequent discrimination that follows, according to the World Health Organisation. “Personal shame, internalised through an individual’s mental health suffering, is a silent problem,” WHO said in its 10 October statement accompanying its report.

HSBC exec Stuart White opens up about depression as City bosses told to be vulnerable to improve diversity

Senior bosses at City firms have been encouraged to ‘stick their necks out’ and lead by example, and create safe spaces for employees to talk about their experiences if they want to improve diversity and inclusion across the industry. These were some of the major takeaways to come out of The Diversity Project’s #Fishoutofwater panel discussion on … Read more

City executives say they’re warming to ‘now electable’ Labour

Three years ago, the prospects of a Labour government in Downing Street filled many City executives with terror. Jeremy Corbyn’s policies were seen at the time as radical and anti-business. Now things couldn’t be more different. Prime Minister Liz Truss’ mini-budget, where the political party typically seen as most cozy with Square Mile executives instead rocked Britain’s economic outlook … Read more

City bankers take gongs at annual awards for Black British businesses

The City’s top Black professionals and rising stars were honoured at a celebration of business talent on 29 September. In an awards ceremony that drew a crowd of  nearly 500 at the Leonardo Royal Hotel, St Paul’s, organisers of the ninth annual Black British Business Awards recognised the top professionals who had overcome challenges to reach … Read more

Credit Suisse draws up plans to split investment bank in three

Credit Suisse could split its struggling investment bank into three parts, a move that would involve thousands of job cuts as the Swiss bank reshapes its business. The bank has drawn up plans to split its beleaguered investment banking unit, including creating a so-called ‘bad bank’ to hive off unwanted assets, the Financial Times reported … Read more

Metaverse funds top $2bn as Fidelity, LGIM, Franklin chase ‘theme du jour’

Funds investing in the metaverse are now managing more than $2bn globally, as a flurry of launches from some of Europe’s biggest asset managers look to take advantage of a hot investment trend. Data from Morningstar, provided to Financial News, shows a sharp increase in assets managed by funds focused on immersive virtual worlds, as well as in the … Read more

Banker bonus cap: Going, going, gone?

New chancellor Kwasi Kwarteng is drawing up plans to ditch the UK banker bonus cap as part of plans for a ‘Big Bang 2.0’ to reinvigorate the City after Brexit. The timing could be better. The British public has barely forgiven bankers for the 2008 financial crisis, and dangling bigger banker bonuses during a cost-of-living crisis … Read more

Goldman to cut poor performers in annual cull

In a return to pre-pandemic practice of hiving off low-performing staffers from the bank, Goldman Sachs is set for a round of job cuts. The US investment bank is set to axe jobs in plans that could trigger the earliest layoffs as soon as next week, The New York Times reported, according to people familiar with the … Read more

City enjoys love-bombing from Truss, but can she deliver?

Ever since the global financial crisis, City bosses have complained that politicians don’t give financial services enough love. The attitude to one of the UK’s few world-leading industries has been at best lukewarm, they moaned. Well, they can hardly lay that charge against the new prime minister. Liz Truss is surely the only world leader who … Read more